Former Federal Reserve Vice Chairman: Wacht must work with the FOMC committee to make changes

Odaily Planet Daily reports that former Federal Reserve Vice Chairman Clarida stated that Wacht has achieved remarkable success and is highly respected. It is possible to implement monetary policy without forward guidance, but Wacht must work with the FOMC committee to make changes. The Federal Reserve Chair almost always gets what they want, and this will be the Federal Reserve under Wacht’s leadership. It is appropriate for the Federal Reserve and the Treasury Department to engage in dialogue about balancing objectives. (Jinshi)